Good News For Small Businesses
Proposed Changes To Business Rate Initiatives
For the first time ever the Government has intervened to cap the increase in business rates at 2%. Small business rate relief which has been in effect since October 2010 is to be extended until March 2015 which will help businesses with a rateable value below £18,000 (£25,500 in city of London).
How to apply for the relief?
- If your RV is between £12,000 & £18,000 (£12,000 & £25,500 in city of London) – The discount will automatically be applied on the rates bill. A lower multiplier known as the Uniform Business Rate (UBR) will bee applied so no action is required.
- If your RV is below £12,000 – Not only will you be entitled to the UBR but you will be able to claim for Small Business Rates Relief. The rate of relief will gradually decrease from…
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